Roughly one in three U.S. adults aged 18-34 live with their parents, 2024 Census data shows — a trend sustained over two decades despite economic shifts.
Experts say these economic shocks have left young adults financially vulnerable, with many staying home to save for goals like homeownership. For some, staying home offers financial stability, but this trend affects the economy, as young adults moving out boosts consumer spending. The pandemic caused more young adults to return home or remain living with their parents into their late 20s and 30s, but aside from that spike, the numbers have remained fairly consistent in recent years.
Pre-pandemic, the most recent surge in the share of 18- to 34-year-olds living with their parents occurred between 2005 and 2015, according to data from the Census Bureau. Economic shocks are significant and unexpected events that disrupt financial stability and markets, which then affect households’ income, employment and debt levels. The 2008 financial crisis, the Great Recession and the pandemic are all examples of economic shocks.
More than half of Gen Z adults say they don’t make enough money to live the life they want due to the high cost of living, according to a 2024 survey from Bank of America. A significant number of millennials and Gen Z adults lack emergency savings.